New Delhi, Aug 26 (IANS) Mumbai has solidified its status as a leading global prime residential market, with capital value growth of 2 per cent to 3.9 per cent in the first half of CY 2025, a report said on Tuesday.
Mumbai’s prime residential market is benefiting from steady demand by both domestic and international buyers, even as macroeconomic uncertainty weighs on the global sector, UK-based real estate services company Savills said in a report.
The financial capital of India continued to show positive capital value momentum and a healthy uptick in premium rental demand, driven by affluent Indians and returning NRIs.
Savills identified Mumbai as one of the few Asian cities capable of absorbing new supply despite global macroeconomic uncertainty. "With major infrastructure projects underway and limited new supply, we expect prices to see steady growth and Mumbai to gain even more global recognition," Savills India's Managing Director – Research & Consulting, Arvind Nandan, said.
In the rental market, demand surged from corporates, entrepreneurs, and consulates, with redevelopment activity across the city pushing rental values upward. Consistent demand from corporate occupiers and diplomatic missions is expected to persist, with rents projected to rise by up to 2 per cent over the next six months.
The Indian real estate market as a whole remained competitive on the international stage with moderate additional costs for buying, holding, and selling residential property, the report said.
"Typical mortgage deposits for NRIs are between 15 and 25 per cent, ensuring accessibility for a wider band of prime buyers compared to many Western and Asian markets with higher costs," it added.
According to Savills, the global markets, after a strong price growth in 2024, experienced a slowdown in growth from 2.2 per cent for the full year to 0.7 per cent in the first half of 2025.
While 60 per cent of cities recorded positive capital value growth in H1 2025, declines in the remaining markets were generally modest and concentrated in larger, more mature cities.
--IANS
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